Credit markets
Bank of America sets up new Asia debt management team
Bank of America (BoA) has set up a new debt management team in Asia to build on its efforts in debt capital raising, distribution, structuring and trading activities throughout the region, the bank said.
Former chairman of Australian regulator urges credit risk rethink
Banks need to move their focus from credit risk measurement to credit risk management, according to Jeffrey Carmichael, former chairman of the Australian Prudential Regulation Authority.
The Mystery Behind the Numbers
A host of recent compliance regulations in the US and the UK has shined yet another light on the need for clean reference data.
Axa launches credit-equity volatility arbitrage fund
Axa Investment Managers has launched the second generation of its credit-equity volatility arbitrage fund, called Axa Kappa.
Covenants: crisis of confidence
Financial covenants that rely too heavily on ratios are just not sophisticated enough to predict the likelihood of default, argues Sarah Woo . Loan originators must learn a trick or two from their colleagues in portfolio management and develop…
Straits Lion joins ranks of CDO managers
Straits Lion Asset Management has joined the growing ranks of Singaporean asset managers active in the synthetic collateralised debt obligation (CDO) market, following the launch of an Asian credit-dominated investment grade CDO arranged by Goldman Sachs.
Nord Pool’s back-up
Nord Pool Clearing is the first pure electricity clearing house to obtain capitalsupport through insurance to cover defaults by its trading counterparties. Areenergy companies set to follow suit? Joe Marsh reports
Time to adapt copula methods for modelling credit risk correlation
In an evolving market, a new standard for the price quotation of credit products that models correlated changes in credit spreads as well as default times is needed, argues Darrell Duffie.
ABN Amro targets Asian CDO market
ABN Amro has closed a single-tranche synthetic collateralised debt obligation (CDO) for a Singapore asset manager, its second deal in a month and its first with a Singaporean investor.
A taste of corporate risk
Profiles
Editor’s letter
CDO guide: editor’s letter
Severity of default is key
CDO guide: recovery rates
A sterling effort
exchange-traded funds
Uncovering covered bonds
Credit forum
Turning the tanker
CDO guide: static versus managed CDOs
The ABC of CDO
Contents
Out of the ordinary
CDO guide: investor demand
Diverse and sophisticated
CDO guide: product innovation
Rating the product
CDO guide: Rating agencies
Understanding the product
CDO guide: market information
The synthetic solution
CDO guide: cashflow versus synthethic CDOs
The reason to issue
CDO guide: market evolution
The start of the market
CDO guide: introduction